Author: Julius Alagbe

Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

PenCom Stops PFAs from Investing in Commercial Papers

MarketNews

PenCom Stops PFAs from Investing in Commercial Papers The National Pension Commission (PenCom) has directed Licensed Pension Fund Administrators (LPFAs) and Custodian Fund to immediately suspend further investment in commercial papers where capital market operators (non-banks) are engaged as IPAS. This was contained in a circular with reference number: PENCOM/TECH/ISD/2024/402, dated Oct. 23, 2024 and signed by A.M.Saleem, Head, Surveillance Department of PenCom. The circular obtained was addressed to managing directors and chief executives officers of all LPFAs. PenCom warned the LPFAs to desist from investing in the affected portfolio pending the issuance of guidelines or regulations on the issuance…

Read More

Naira Rises as Nigeria’s US Dollar Reserves Hit 27-Month High

FX Market

Naira Rises as Nigeria’s US Dollar Reserves Hit 27-Month High The naira rose against the US dollar in the foreign exchange (FX) market as liquidity balances in the currency market overshadow demand pressure. Spot FX data from the FMDQ platform showed the naira appreciated by 3.20%, closing at ₦1,601.20 per US dollar at the official market. The significant daily improvement in exchange rate happened due to the slowdown ahead of seasonal requests for FX related transactions by importers.  Exchange rate recalibration has been intermittent, though some analysts maintained a positive outlook on exchange for 2024. While the naira is falling,…

Read More

Money Market Rates Climb over Negative Liquidity Balance

MarketNews

Money Market Rates Climb over Negative Liquidity Balance Money market rates climbed on the back of a deficit liquidity balance in the financial system. The market has consistently kept rates higher in the absence of significant inflows that could upturn the negative liquidity. Reflecting the previous trend, investment firms reported that system liquidity improved but rates remain on the high side. In its market update, AIICO Capital Limited said liquidity balance improved slightly as Federal Account Allocation Committee (FAAC) inflows or credits begun to come in gradually. Banks have been accessing funds from the Central Bank of Nigeria (CBN) at…

Read More

Benchmark Yield Dips as Investors Bet on Nigerian Bonds

MarketNews

Benchmark Yield Dips as Investors Bet on Nigerian Bonds The benchmark yield on Nigerian government bonds dipped slightly to 19.31% as investors increased their position in the secondary market.  Asset managers have been playing the bond markets, targeting optimized returns on their portfolios.  The sustained demand for Nigerian bonds has been driven by elevated yields in the fixed income market – even as inflation continues to threaten returns. Market participants sought higher rates at debt office monthly auction as bonds supply eased. This week, the inflation rate surge triggered riskoff sentiment, with selloffs on borrowing instruments lifting yields on short…

Read More

Access Holdings Spikes by 10% as Investors Begin Hunting

MarketForces Finance

Access Holdings Spikes by 10% as Investors Begin Hunting Access Holdings Plc recorded positive daily price movement of about 10% on the Nigerian Exchange (NGX) over renewed buying interest on the banking stock. Investors have started to hunt for growth and value stocks in the equities market amidst the third quarter earnings festival, and more positions have been seen on banking names. Data from the local bourse revealed that Ticker: ACCESSCORP accounted for 7.59% of the total volume of shares traded in the equities market on Thursday. Trading records from the domestic bourse showed that the holdings company share price…

Read More

Kuda Partners with Vendy for Secure Payments with Kuda Pay ID

News

Kuda Partners with Vendy for Secure Payments with Kuda Pay ID Kuda has partnered with Vendy, a marketplace on WhatsApp, to integrate Kuda Pay ID as a payment option for buyers on Vendy. With Vendy integrating Kuda as a payment provider, buyers can make cardless payments with a Kuda Pay ID when they are buying from Vendy sellers on WhatsApp. By authorising a direct debit with a Kuda Pay ID, customers can protect their financial information, significantly reducing the risk of card fraud or unauthorised transactions. The partnership aims to simplify payment processes for both sellers and buyers, making it…

Read More